On top of making sure the content of your IA is top-notch, structuring it effectively can make a large difference to your final mark. Most high-scoring Economics IA can be broken down into 5 sections:
Introduction (75 words) – outlines and summarizes the article in 2 or 3 brief sentences. In this introduction, define a few key terms that will be used going forward through the essay. Make sure that this doesn’t just become a list of definitions, though! Only define a key term if relevant, and if you’ve already used it in a sentence.
What was the underlying problem? (100 words)– let’s say the government is considering imposing a soda tax. In this case, the underlying problem may be the market failure caused by sugary drinks. You may want to draw a diagram and give a clear explanation on how sugary drinks cause market failure through negative externalities, and how that may be a detriment to society.
What is the proposed policy (and what is its intended effect)? (200-250 words) – the bulk of your analysis will fall under this section. This is where you explain and show how, for example, an excise soda tax is intended to shift the supply curve in order to curb consumption/production of that demerit good and thus reduce the market failure.
What are some unintended effects of the policy? (200-250 words) – this is where your evaluation comes in. Don’t underestimate the importance of in-depth evaluation for your IA. Tip #5 in this article does a deep dive into all the essentials of the perfect evaluation
Conclusion (75 words) – concludes your main ideas in 2-3 sentences. Recap the reason behind the policy implementation, the intended effect of the policy, and summarize your evaluation of the situation. Don’t bring up any new thoughts/ideas in this section as you won’t be able to thoroughly explain them!
We all know diagrams are at the heart of IB Economics. For the IA, this is no different. When we insert diagrams, we need them to be large, labelled, clear and correct. Beyond this, however, we also need to make sure that our diagrams aren’t left ‘hanging’. What do we mean by that? Even if your diagrams are clean and accurate, if you don’t explain them, you might as well not have drawn them as it doesn’t show that you understand what the diagrams are showing! The rubric clearly outlines that all diagrams need ‘a full explanation’. Don’t undo your hard work by failing to connect your analysis to your academic artwork!
Top Tip: To boost your score even more, see if you can add some figures from your article onto your diagrams.
